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Rob Carrick's Reader: Richie Rich visits the pawnshop

The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.

Richie Rich Visits The Pawnshop

"People like to call them the 1 per cent," a pawnbroker says of wealthy Americans in this video. "We call them our client base." Yup, rich people are pawning stuff in today's tough economic world to generate some cash. Samples: A platinum Rolex worth $90,000, coin collections, expensive cognac and a 250-year-old Torah.

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ETF Insight is a new website designed for investors who want help sorting through the hundreds of exchange-traded funds out there.

A look at Procter & Gamble, which as a consumer products giant is the type of company you can't find in the Canadian stock market. P&G has been paying dividends for 121 consecutive years.

Here's a debate on the merits of investment advisers selling mutual funds with a deferred sales charge, where the client pays nothing to buy but faces a redemption fee if he or she sells in the first six or so years after buying. What's interesting here are the comments by an adviser that pretty much destroy the rationale for using DSC funds.

You can get much higher yields from stocks paying dividends than you can from bonds, but you're also adding more risk than you may be comfortable with.

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Join the 10,000+ people who subscribe to my Facebook personal finance community for talk about investing, retirement, real estate, banking and other financial matters. I'm also on Twitter.

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Editor's note: If you don't receive Rob Carrick's newsletter twice weekly by email, you can sign up to get it for free at The Globe and Mail. All you need to do is register for the site, or if you've already registered, log in and go to your profile at the top of the homepage. Once you're in your profile, look under Newsletters and Alerts and look for the Personal Finance Reader and other newsletters. Other financial newsletters include: Business Ticker, a summary of the day's top business stories; Berman's Market Update, a summary of the markets at the open, noon and close; and All-Star Investors, a monthly collection of articles exploring an investing trend or theme.

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About the Author
Personal Finance Columnist

Rob Carrick has been writing about personal finance, business and economics for close to 20 years. He joined The Globe and Mail in late 1996 as an investment reporter and has been personal finance columnist since November 1998. Rob's personal finance columns appear in The Globe on Tuesday and Thursday, and his Portfolio Strategy column for investors appears on Saturday. More

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